In every category, even luxury, the number of homes sold is trending upwards. The charts below are not reflective of the price they are trading at, but generally higher market activity starts to put upward pressure on prices. The charts below show a two year period ending August 30, 2009. Overall, my reading of these charts is that if you were waiting for the market to bottom out, it has already done so. Also, it’s still a very good time to buy between 500k and $2MM as those curves have only just started to gently edge up.
Home Sales $500,000 & Under (It must be noted here that one of the reasons the growth in sales is so high is because there were fewer homes as a proportion of the market under $500,000 back in 2007.)
Home Sales $501,000 – $999,000
Home Sales $1,000,000 – $1,999,999
Home Sales $2,000,000 and Above
